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MAPI – Weighed Down by Store Closures and Weak Consumer Spending

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Putu Chantika
Putu Chantika
Analyst - Consumer, Retail
Putu Chantika
Latest posts by Putu Chantika (see all)
  • ICBP – Supported by Topline Growth - December 20, 2021
  • ACES – Slowdown in 3Q21 Sales - December 7, 2021
  • ERAA – Continue on Growth Path - December 1, 2021

The retail sector continues to suffer under the weight of the Covid-19 throughout 1Q20 and likely continue to the next quarter. MAPI, as one of Indonesian retailer, recorded a low single digit growth on revenue and a sharp decline in the pace of SSSG. For company’s outlook, we lower our top line and bottom line assumption as our initial view of recovering growth for 1H20 is challenged by a persistently weak demand environment.

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